A manufacturer uses process costing. It has one direct material cost pool and one conversion cost pool. Information for the month is as follows:

$\backslash$table$[[,$Beginn$3$ng of Month,,End of Month$],[$Work in process:,$5,000$ units,$4,000$ units,$],[$Conversion $(\%$ of completion in WIP$)$:$,60\%,30\%,],[$Costs of Materials in WIP:,$$80,000,?,],[$Costs of Conversion in WIP:,$$90,000,?,]]$

During the month:

Units started during the month: $30,000$ units

Costs incurred for Materials: $$400,000$

Costs incurred for Conversion: $$300,000$

Total Spoiled Units detected: $2,000$ units

Other Income Statement Information:

Sales:

$$900,000$

Admin expenses

$$100,000$

Inspection occurs when units are $70\%$ converted, and inspection determines if the units are "acceptable" or "spoiled". Normal Spoilage is based on $2\%$ of units started.

$80\%$ of direct materials is added at the beginning of the process, and $20\%$ of direct materials $($for packaging$)$ are added immediately after inspection.

There were no finished goods or raw material inventories at any point of the process.

Required:

Part A: Calculate the value of ending WIP, and prepare an Income Statement for the month assuming that process costing is based on modified FIFO,

Part B: Calculate the value of ending WIP, and prepare an Income Statement for the month assuming that process costing is based on Weighted Average.

$($you can omit the company name and period from the income statement$)$